Importance of Loyalty in Investment Decisions

In his book "The Loyalty Effect" (Harvard Business Review Press)* Fred Reichheld describes research conducted by a team of Bain & Co. consultants to determine the reason for stand-out growth and profits. His premise is|was that loyalty (from customers, employees and investors) is one of the most accurate predictors of success. "Firms that earned superior levels of customer loyalty and retention also earned consistently higher profits" and grew faster.

Admittedly, the book was published in 1996 and there may be many additional factors to consider.

What has been your experience as an investor? Do loyalty metrics factor into your investment decisions?


*NB: I have no stake in this but as a courtesy, here's a link to the book:
https://www.amazon.com/dp/###-###-#### /